For those that applied for the Small Business Cashflow Loan (SBCS) in 2020, the 2-year interest-free period will be coming to an end during 2022. All businesses that received the first loan will start receiving letters advising that the interest will soon be charged to the loan and repayments should commence. If repayment is received […]
Repayment information for the Small Business Cashflow Loan Read More »
2nd COVID-19 Support Payment to open on 14 March A 2nd COVID-19 Support Payment (CSP) will open on 14 March and a 3rd payment will open on 28 March. The period of time each CSP will cover are: For the 1st CSP, businesses will need to show their income is 40% lower in a 7-day
Update on CSP Changes – March 2022 Read More »
March 2022 Update Changes have been made to the Small Business Cashflow Loans Scheme to increase the amount of funding available to eligible businesses through the introduction of a ‘top up’ loan. The top up loan will allow those firms that have already accessed a loan to draw down an additional $10,000 with a new
Changes to the Small Business Cash Flow Loan Read More »
February 2022 Businesses struggling with revenue during the Omicron outbreak can apply for new targeted funding, as announced by the government on Monday 21st February. Applications for the first payment open on February 28, with payments starting from March 1. There will be 3 payments in total, available on a fortnightly basis. The new scheme
New financial support for businesses affected by Omicron Read More »
The Minister of Finance has announced a number of changes to the financial support for businesses once New Zealand moves into the COVID Protection Framework at 11.59pm on December 2nd. There will be a one-off Transition Payment to acknowledge the restrictions businesses have faced due to the higher Alert Levels in Auckland, Waikato and Northland.
The Transition Support Payment Read More »
How do I calculate my revenue? Your revenue for the RSP calculation should be based on standard accounting principles for revenue recognition. i.e., how you would normally prepare your annual or monthly reports. For example: For a business that deals mainly in cash, such as restaurants and bars, revenue would be the daily takings.
RSP – FAQ’s and Explanations Read More »
To help clarify a few queries we have been getting around how to pay the wage subsidy when your business is operating, we referenced myHR for their answers to frequently asked questions around covid-19 support. The main points to consider are: Use the wage subsidy to help top up the usual wages you would pay
Processing the wage subsidy when you are working Read More »
The IRD have advised that if taxpayers are adversely impacted by COVID-19, and they pay the outstanding core tax as soon as practicable that they will automatically write-off any penalties and interest. Support from the IRD: The type of relief available for new debt due to COVID-19 if you are unable to pay your taxes
Support from the IRD and Banks Read More »
Updated 26 October 2021. It has been announced that the Government will boost payments to businesses affected by higher alert levels as the country transitions to the new COVID-19 Protection Framework. The next payment of the Resurgence Support Payment will be available to apply for from the 29th October through myIR. This payment will remain
The Resurgence Support Payment Read More »
Stuck in lockdown and feeling frustrated? It could be the perfect time to do some planning. Having a plan, or just a couple of goals, can help you make better business decisions and sort out your priorities.
The perfect time for planning Read More »
